In an announcement Wednesday, MoneyGram said it had bought a roughly 4% stake in Coinme - likely more than $764,000, given its $19.1 million valuation in June - as part of a strategic investment in the cryptocurrency company. The investment comes after a May 2021 partnership between the two companies, which aims to expand access to cryptocurrency exchanges.
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"We remain optimistic about the vast opportunities that exist in the ever-growing world of cryptocurrencies and our ability to operate as a qualifying bridge to connect digital assets to local fiat currency," said MoneyGram CEO. , Alex Holmes.
"Our investment in Coinme further strengthens our partnership and complements our shared vision of expanding access to digital assets and cryptocurrencies."
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